James, 25 years old, is the beneficiary of a $1,000,000 life insurance policy. Peter, 76 years old, is the beneficiary of another $1,000,000 life insurance policy. Explain briefly (in a 2 or 3 sentences) why it is a logical idea for Peter to choose Life Income with guaranteed period settlement option, but it is not logical for James to pick that option. (3 marks)